Flight of the baby boomers

UK employers are anticipating a significant skills gap when baby boomers retire over the next two to five years and are already taking steps to mitigate the risk. New research from leading recruitment specialist Robert Half UK reveals that 74% of finance directors are concerned that the skills gap resulting from widespread retirement of baby boomers will have a negative impact on their organisation over the next two years. An even higher proportion (77%) say that the departure of older workers will have a negative impact over the next five years.

Born after the-Second World War and before 1965, baby boomers are associated with the soaring post-war birthrate and the last generation to experience and take advantage of regular improvements in the socio-economic landscape. Baby boomers also represent a bulge in the workforce that will soon be at retirement age.

Not only will employers need to consider the impact of the skills shortage that this mass-departure will create, but they will also have to accommodate different demands and expectations from younger Generation X and Y workers coming to replace them.